er 13 Homework Saved Mady Entertainment Inc. showed the following equity account balances on the December 31, 2022, balance sheet Common shares, unlimited authorized shares, 660,000 shares issued and outstanding $3,960,000 2,030,000 Retained earnings During 2023, the following selected transactions occurred: Apr. 1 Repurchased and retired 172,000 common shares at $7.20 per share; this is the first retirement recorded by Mady. June 1 Declared a 2:1 share split to shareholders of record on June 12, distributable June 30. Dec. 1 Declared a 10% share dividend to shareholders of record on December 10, distributable December 20. The market prices of the shares on December 1, December 10, and December 20 were $4.20, $3.96, and $4,10, respectively. 20 Distributed the share dividend declared December 1. 31 Closed the credit balance of $756,000 in the Income Summary account. Required: a. Journalize the transactions above (assuming the retirements were the first ever recorded by Mady Entertainment Inc.). The compan does not use a share dividends account. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list View journal entry worksheet No Date General Journal 1 April 01, 2023 Common shares Debit Credit 1,032,000 300-100 View transaction list View journal entry worksheet No Date General Journal Dobit Cindit April 01, 2023 Common shares 1,032,000 Retained earnings 206,400 Cash 1,238,400 21 June 01, 2023 409,920 409.920 3 December 01, 2023 Retained earnings 409,920 Common share dividends distributable 409,920 4 December 20, 2023 Common share dividends distributable Common shares 409,920 409.920 December 31, 5 Income summary 2023 Retained earnings 756,000 756,000